Schwab Charles Investment Management Inc. Grows Holdings in Acceleron Pharma Inc (NASDAQ:XLRN)

Schwab Charles Investment Management Inc. increased its holdings in Acceleron Pharma Inc (NASDAQ:XLRN) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,240 shares of the biopharmaceutical company’s stock after buying an additional 12,969 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.45% of Acceleron Pharma worth $9,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Farallon Capital Management LLC lifted its position in shares of Acceleron Pharma by 28.8% during the 1st quarter. Farallon Capital Management LLC now owns 1,401,000 shares of the biopharmaceutical company’s stock valued at $54,779,000 after acquiring an additional 313,000 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in shares of Acceleron Pharma during the 1st quarter valued at $5,274,000. PNC Financial Services Group Inc. lifted its position in shares of Acceleron Pharma by 1,496.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 131,119 shares of the biopharmaceutical company’s stock valued at $5,127,000 after acquiring an additional 122,907 shares during the last quarter. UBS Group AG lifted its position in shares of Acceleron Pharma by 76.9% during the 1st quarter. UBS Group AG now owns 279,883 shares of the biopharmaceutical company’s stock valued at $10,944,000 after acquiring an additional 121,682 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. acquired a new stake in shares of Acceleron Pharma during the 2nd quarter valued at $2,085,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Kevin F. Mclaughlin sold 12,500 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $54.00, for a total value of $675,000.00. Following the sale, the chief financial officer now directly owns 56,439 shares of the company’s stock, valued at $3,047,706. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.

A number of brokerages have recently commented on XLRN. BidaskClub upgraded Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 22nd. Piper Jaffray Companies upgraded Acceleron Pharma from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $75.00 in a research report on Monday, September 17th. Morgan Stanley began coverage on Acceleron Pharma in a research report on Monday, September 10th. They set an “equal weight” rating and a $55.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Acceleron Pharma in a research report on Friday, August 3rd. Finally, MED restated a “positive” rating on shares of Acceleron Pharma in a report on Friday, July 13th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $56.30.

Acceleron Pharma stock opened at $52.48 on Tuesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -19.58 and a beta of 1.38. Acceleron Pharma Inc has a one year low of $32.53 and a one year high of $59.59.

Acceleron Pharma (NASDAQ:XLRN) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.01. The firm had revenue of $3.69 million for the quarter, compared to the consensus estimate of $3.37 million. Acceleron Pharma had a negative net margin of 795.94% and a negative return on equity of 30.78%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.77) earnings per share. Equities analysts anticipate that Acceleron Pharma Inc will post -2.52 EPS for the current fiscal year.

Acceleron Pharma Company Profile

Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.

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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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